Term Sheet - Thursday, May 17

CLASH OF THE TITANS It's not just venture capital firms raising record amounts of capital. Private equity tech giants are also facing off with a slate of new mega-funds.
Vista Equity Partners Management and Thoma Bravo, which are two of the largest technology-focused PE firms, are currently in a race for big dollars. Vista hopes to raise approximately $12 billion for its new buyout fund, while Thoma Bravo is targeting $10 billion, according to The Wall Street Journal.
Why is this important?
Dry powder levels are at record highs. Buyout funds were sitting on an all-time high of $633 billion...Read more ...